First Asic for SIA - Obelisk SC1

[Searing]

Not a slam...just an observation


there is no way the devs can lose on this ASIC development

1) if it all goes according to plan and they make/sell units...they know their profits

2) if the project fails and BTC goes by next July to 5k or 7.5k etc ..they will refund us in USD.

My only issue is ..they COULD discover sometime in March 2018 say that they could make more $$$ if our BTC tripled
and they refunded us USD ..thus why bother with the miner

just a thought

to make you go hmmmmmmmmmm

 
edit: by the by did anyone get more than one? I jumped in with ONE because a buddy jumped in with FIVE and I did not want
to be left out. (yeah the old double dare)

others? curious?

[1714248644]

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[1714248644]

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[Eyedol-X]

Not a slam...just an observation


there is no way the devs can lose on this ASIC development

1) if it all goes according to plan and they make/sell units...they know their profits

2) if the project fails and BTC goes by next July to 5k or 7.5k etc ..they will refund us in USD.

My only issue is ..they COULD discover sometime in March 2018 say that they could make more $$$ if our BTC tripled
and they refunded us USD ..thus why bother with the miner

just a thought

to make you go hmmmmmmmmmm

 
edit: by the by did anyone get more than one? I jumped in with ONE because a buddy jumped in with FIVE and I did not want
to be left out. (yeah the old double dare)

others? curious?

I absolutely agree here that there is no way for them to lose because any way you slice it they win

Asic profits = Win for Devs
SIA market cap increases = Win for Devs
SIA architecture market share increases = Win for Devs

If the asic project fails and you get a refund in USD and that would really suck if that happens. My hope is that it doesn't happen. From everything I've pieced together from the myriad of information on Reddit, I don't see this venture failing with the number of investors out there wanting it to succeed privately.

My issue is that you could potentially make more money investing in SIA today for $2500 and then dumping it after the pump from the asics happens. This issue is what initially prevented me from considering what Asic brings to the table. After thinking about it long term and what I think the SIA architecture can do if I simply bag hold today and not look at the short term profit/loss of the venture, it is my belief it will pay off tomorrow(someday).

I just got 1 for now, I figure I'll set my Minebox and my Obelisk next to each other once I have both.

[Aesedai]

Yeah, I just got one but I think I will also get one from the second batch with my handy $250 coupon that is coming with the first one.  That should at least keep my Sia earnings consistent for a long while.

[Plumbus]

Not a slam...just an observation


there is no way the devs can lose on this ASIC development

1) if it all goes according to plan and they make/sell units...they know their profits

2) if the project fails and BTC goes by next July to 5k or 7.5k etc ..they will refund us in USD.

My only issue is ..they COULD discover sometime in March 2018 say that they could make more $$$ if our BTC tripled
and they refunded us USD ..thus why bother with the miner

just a thought

to make you go hmmmmmmmmmm

 
edit: by the by did anyone get more than one? I jumped in with ONE because a buddy jumped in with FIVE and I did not want
to be left out. (yeah the old double dare)

others? curious?

They are converting the BTC payments to USD immediately after payment. They will see no benefit from BTC price rising

[Eyedol-X]

As of 1 hour ago they are up to 500 units sold with a goal of selling 2000 units during the pre-order. They are hand verifying every pre order.

They have indicated if they do not reach 2000 units sold in 7 days of pre-order that they will likely offer another pre-order option later but without the perks offered in the initial pre-order.

1500 to go!

[henkcryptotank]

Bought one too, i think it was a great investment. Will be able to say so after start of 2018 


Greets Hank

[ekrififi]

So how much SIA can this asic miner mine in a day if anyone can speculate?
I just check SIA price is less  than $0.05, someone with $1K can definitely buy a ton of it to hold for its pump. If you hold today, you wouldn't have to mine and spend electricity bill for it.

That is absolutely true. One COULD buy and hold any amount of SIA to benefit from any future price increase... but that is somewhat limiting. If you invest $1,000 in SIAcoin now, you would pick up about 69,000 siacoins... if it doubles in price, youd have $2000... but that's it. The Obelisk SC1 will allow you to mine SIAcoin indefinitely. The only thing that would interfere with that ability is if the price of SIA drops so much that it cost more in electricity than you can make in mining SIA, or if some other company produced some bigger / better ASIC that leaves the SC1 in the dust.

I don't think the latter is likely to happen. The people making this ASIC are FROM SiaCoin. Their reason for making it has a lot to do with their belief in SiaCoin's future and their desire to secure that future. Other larger ASIC producers (bitmain, baikal) are unlikely to follow suit, at least in the short term.

[Metroid]

Price is already crashing, soon only asics will be mining siacoin, bad move from the devs.

[ekrififi]

Price is already crashing, soon only asics will be mining siacoin, bad move from the devs.

Well, the ASICs will not be able to mine Sia until they arrive 9-12 months from now. After that it IS likely that ONLY asics will (be able to) mine SIA... but that's kind of the point. I think, until that happens, it'll make sense to GPU mine Sia... even if it drops in price... that may make it MORE desirable to mine as you could pick up more of them as other GPUs switch to other cryptos.

[Searing]

Not a slam...just an observation


there is no way the devs can lose on this ASIC development

1) if it all goes according to plan and they make/sell units...they know their profits

2) if the project fails and BTC goes by next July to 5k or 7.5k etc ..they will refund us in USD.

My only issue is ..they COULD discover sometime in March 2018 say that they could make more $$$ if our BTC tripled
and they refunded us USD ..thus why bother with the miner

just a thought

to make you go hmmmmmmmmmm

 
edit: by the by did anyone get more than one? I jumped in with ONE because a buddy jumped in with FIVE and I did not want
to be left out. (yeah the old double dare)

others? curious?

They are converting the BTC payments to USD immediately after payment. They will see no benefit from BTC price rising

You have a point.

[PovertyByte]

Their ASIC is expensive, it looks like a centralization club. If they had multiple models including some that weren't worth 2.5k USD than the sales would be more distributed

[Metroid]

Their ASIC is expensive, it looks like a centralization club. If they had multiple models including some that weren't worth 2.5k USD than the sales would be more distributed

Too expensive, remember they made projections, if it was right now then with the equipment, it could actually mine around 230k siacoins per month, as soon as thousands of asic copies are put into the network then we will really see if those numbers added up, their projections are based on around 60k per month which is almost 4 times less than now, and that figure adds to 9 months of an increasing hashrate, thing is, with that amount of money you can get 100% of the money invested around 9 months or so as things stay like this, aside from this is hard to predict anything.

As any preorder, as long as you pay 10% of the value then 90% when they deliver then is fine. That will be a minimal loss if they dont deliver, question is, do they have all the money to pay upfront to the production factory to start producing them? Most asic producers dont, so that is why they are most scams but then again why would they pay all upfront and then sell and people get their roi in a month or so. My guess is they could base the value of that equipment based on returns. So right now $2500 is very expensive, if they could deliver right now at $6000 then it would not, see where i'm going. I would never preorder it. The asic market is a scam.

[CarlOrff]

What do you think about the impact of such ASICs on the SIA price ?
UP ? Down ?
The difficulty will rise a lot, that's certain, but the price ?

[Metroid]

What do you think about the impact of such ASICs on the SIA price ?
UP ? Down ?
The difficulty will rise a lot, that's certain, but the price ?

Like all asic coins, siacoin's value will stagnate after asic miners hit, it will not increase cause people will sell as they go hoping to get the value they paid out of it. After they get the value they will still keep selling it to get the money and invest on other coin and you may ask why they will sell? why not hold? the same thing happened to litecoin, see where it went? siacoin devs will have no control of asics after a later date, chinese will mimic improve the damn thing and then will be gameover. Nobody will invest on it cause there will be no control, just like bitcoin, litecoin or any other asic coin. I mean nobody understand why the chinese could sell thousands of bitcoins at 200 usd when europeans and other asic producers around the globe could not sell a bitcoin for $400, see where i'm going, how the chinese could and the rest of world could not? chinese are the greatest mimic techs of the world and once you give them a way to cheat the system like the siacoin devs are doing then its a gameover. The siacoin devs are dumb or perhaps they know where this is going and they want to make a one hit and run for life.

[CarlOrff]

What do you think about the impact of such ASICs on the SIA price ?
UP ? Down ?
The difficulty will rise a lot, that's certain, but the price ?

Like all asic coins, siacoin's value will stagnate after asic miners hit, it will not increase cause people will sell as they go hoping to get the value they paid out of it. After they get the value they will still keep selling it to get the money and invest on other coin and you may ask why they will sell? why not hold? the same thing happened to litecoin, see where it went? siacoin devs will have no control of asics after a later date, chinese will mimic improve the damn thing and then will be gameover. Nobody will invest on it cause there will be no control, just like bitcoin, litecoin or any other asic coin. I mean nobody understand why the chinese could sell thousands of bitcoins at 200 usd when europeans and other asic producers around the globe could not sell a bitcoin for $400, see where i'm going, how the chinese could and the rest of world could not? chinese are the greatest mimic techs of the world and once you give them a way to cheat the system like the siacoin devs are doing then its a gameover. The siacoin devs are dumb or perhaps they know where this is going and they want to make a one hit and run for life.

Thank you for the reply.. but difficult to understand, no ?

[Metroid]

Thank you for the reply.. but difficult to understand, no ?

It becomes easier to, as you go. Just be wise and don't fall for these scams.

[Searing]

What do you think about the impact of such ASICs on the SIA price ?
UP ? Down ?
The difficulty will rise a lot, that's certain, but the price ?

Well titans do scrypt pow in Nov 2014...first real killer scrypt asics in massive amounts for scrypt pow coins in the day

they then came out a month  or so later with scrypt-n for scrypt-n pow coins (which as far as I'm aware are virtually non-existant now)

they blew up scrypt-n in one week and destroyed the protocol..and thus all the coins of that protocol

not saying it will happen..or even it could happen...but too much piled on too fast ...well just an example

(to scare everyone..bruahahahaha) (ahem...sorry)



edit: I have one of these Obelisk SC1 miners coming..I may get two BUT I also from mining need to set aside the rest of the year according to my CPA Lady
45% of income made for the nice IRS man (self-employment tax/IRS/state etc) to be safe.

Thus one of these is 5 days of mining now for me..thus I can afford to take a "flyer" on these units...if they never come to pass and IF
the folk are legit I'll get a refund in 2018

So in reality, I'm risking 55% of the amount of every one of these I may get (comparatively speaking off my taxes I will pay on income this year)

thus I can afford to be somewhat brave (or stupid/silly/smart..... pick a word)

So right now I can pay the IRS 27k on income this year (if I buy no more equip) or get around 60k of equip

so anyway, place your bet and take your chances...but me...some of this will be gone anyway...so taking a flyer on this

( the last flyer I took was on KNC 500mh Jupiter BTC miner on Oct 18th 2013 for $7K..that worked out)

Do your research, place your bet..and pray to the ASIC gods or hell at my odds just flip a coin.

[Eyedol-X]

Their ASIC is expensive, it looks like a centralization club. If they had multiple models including some that weren't worth 2.5k USD than the sales would be more distributed

They are planning on releasing a GPU Style Sia Mining Asic for around $1000 USD in the future but due to fixed costs of Asic chip manufacturing they had to start with something bigger to get the initial R&D done.

[Searing]

Their ASIC is expensive, it looks like a centralization club. If they had multiple models including some that weren't worth 2.5k USD than the sales would be more distributed

They are planning on releasing a GPU Style Sia Mining Asic for around $1000 USD in the future but due to fixed costs of Asic chip manufacturing they had to start with something bigger to get the initial R&D done.

as an aside....if you built say a 5 card rig (your specs) what supposedly NOW could you get out of it with siacoin? just wondering maybe that is an angle

as to the storage aspect

do you have to buy a miner box to sell space on their network or can you build your own for that aspect of siacoin

the site says they still have some for sale but kinda clueless on how that part of all this works yet

brad

[Eyedol-X]

Their ASIC is expensive, it looks like a centralization club. If they had multiple models including some that weren't worth 2.5k USD than the sales would be more distributed

They are planning on releasing a GPU Style Sia Mining Asic for around $1000 USD in the future but due to fixed costs of Asic chip manufacturing they had to start with something bigger to get the initial R&D done.

as an aside....if you built say a 5 card rig (your specs) what supposedly NOW could you get out of it with siacoin? just wondering maybe that is an angle

as to the storage aspect

do you have to buy a miner box to sell space on their network or can you build your own for that aspect of siacoin

the site says they still have some for sale but kinda clueless on how that part of all this works yet

brad

If you go with a 1070 Rig using Claymore, you can crank the ETH intensity down to about 26MH and Get about 550MH SIA if you crank up the -dcri intensity

So a 7 GPU Rig could do 182MH ETH while at the same time do 3850MH (3.8GH) SIA

The Obelisk is supposed to do 100GH out of the box and use about 500w to do it.

I'm sure you could squeeze more out of the 1070s but it's never going to compare hashrate v. power.

I don't have the Minebox yet but I have pre-ordered the 16TB version and will be updating it to 32TB once I receive it.